Fintech Giant Paystack Suspends CTO, Ezra Olubi Over Sexual Misconduct Claims, Old Tweets Surface.
Paystack, a major Nigerian payments company owned by Stripe, has placed its Co-founder and Chief Technology Officer, Ezra Olubi, on suspension. The decision comes after an allegation of sexual misconduct was made against him, involving a junior staff member.
The situation became public knowledge on Wednesday when a person who described themselves as a former associate of Olubi posted details of the allegation on social media. This online activity brought renewed and intense scrutiny to Olubi’s past posts on the platform X (formerly Twitter).
A series of tweets from Olubi, originally posted between 2009 and 2013, were widely shared. Many of these posts contained sexually explicit remarks and jokes that referenced colleagues and, in some cases, minors. The reappearance of these tweets online sparked a fresh wave of discussion about personal behavior, accountability for past actions, and how social media posts can remain for years.
READ: Attempted Assassination of Lt. Yarima Reported in Abuja Days After Clash with Wike
One of the resurfaced tweets read, “I judge my female friends by the sound of their pee make. Thanks to the audio in my bathroom.” Another stated, “Save water. Take a bath with your neighbour’s daughter.”
A further post, dated May 23, 2011, said: “Monday will be more fun with an ‘a’ in it. Touch a coworker today. Inappropriately.”
Facing growing public pressure, Olubi has since deactivated his X account.
In response to the developing situation, Paystack confirmed to the news outlet TechCabal on Friday that it has started a formal investigation. The company issued a statement announcing Olubi’s immediate suspension.
“Paystack is aware of the allegations involving our Co-founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the company said.
READ: Elon Musk’s xAI Launches Grokipedia, a Rival to Wikipedia
The firm added that it intends to let the investigative process run its course without external interference. “Out of respect for the individuals involved and to protect the integrity of the process, we will not be commenting further until the investigation is complete,” the statement concluded.
Paystack was launched in 2015 by Ezra Olubi and Shola Akinlade. It quickly became a leader in Nigeria’s fintech scene, providing businesses across Africa with the tools to process payments both online and in person.
The company’s rise was notable. It was the first Nigerian startup to be accepted into the well-known Y Combinator accelerator program in 2016. Its growth attracted the attention of Stripe, a global payments leader, which bought Paystack in 2020 for a sum reported to be over $200 million. This acquisition remains one of the largest of its kind for a Nigerian tech firm.
As the co-founder and CTO, Olubi was central to developing the company’s technical foundation, which allowed it to expand its services throughout Nigeria and into other African markets. His suspension marks a difficult moment for the widely respected fintech company
Discover more from TOKTOK9JA MEDIA
Subscribe to get the latest posts sent to your email.
